JD Sports boosts USA presence with $558 million Finish Line acquisition

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The retailer confirmed today that it's entered a merger agreement with United Kingdom chain JD Sports, a move that will drive out current Finish Line shareholder and JD Sports competitor Sports Direct International. State Street Corp increased its position in shares of Finish Line by 6.5% during the 2nd quarter.

A number of institutional investors have recently added to or reduced their stakes in FINL.

Finish Line, whose management team led by CEO Sam Sato is staying on once the company delists from the NASDAQ stock exchange, made $54m (£38m) pre-tax profit and $1.84bn (£1.3bn) sales in the year to 25 February 2018. Virtu Financial LLC purchased a new position in Finish Line during the fourth quarter worth about $167,000.

Wall Street analysts predict that Finish Line Inc (NASDAQ:FINL) will report $575.11 million in sales for the current fiscal quarter, Zacks reports. Wells Fargo & Company MN now owns 81,321 shares of the specialty retailer's stock worth $1,182,000 after acquiring an additional 10,518 shares during the last quarter. Municipal Employees Retirement System of MI now owns 25,960 shares of the specialty retailer's stock worth $312,000 after acquiring an additional 5,570 shares during the last quarter. Public Employees Retirement System of OH increased its position in shares of Finish Line by 15.9% during the 2nd quarter.

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If you own shares of Finish Line stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. The firm has a market cap of $425.44, a PE ratio of -49.21, a P/E/G ratio of 1.42 and a beta of 1.16. It will also need the approval of regulators before it can close. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of worldwide trademark & copyright law. The original version of this article can be viewed at https://registrarjournal.com/2018/03/26/finish-line-inc-finl-shares-bought-by-rhumbline-advisers.html.

Finish Line has been an acquisition target over the past year, with JD Sports rival Sports Direct International entering negotiations to buy the footwear brand in September 2017.

The Finish Line, Inc is a specialty retailer.

Finish Line trades from 556 of its own branded stores across 44 USA states and Puerto Rico, and is also the exclusive retailer of athletic shoes, for U.S. retail giant Macy's.